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E-Commerce Firms, 3PLs Looking for Last Mile Facilities in Nashville Market

The industrial real estate sector is currently undergoing one of the greatest expansionary periods in the nation’s history. Record development, all-time high occupancy and rental rates and strong leasing activity have been a boon to the U.S. industrial market in the last two years. In addition to these fundamental elements that make up a strong sector, there has been a demand driver that has transformed the industrial market more now than ever: e-commerce. Amazon is now the largest …

Downtown Nashville Retail Booms Across Three Major Mixed-Use Developments

With a staggering number of tower cranes at work every day, Nashville has delivered a record number of multifamily units, office space and hotel rooms in the past several years. Even with all this development and with tourists flocking to downtown seemingly every week of the year, one category has lagged: new retail downtown. To provide a snapshot of growth in downtown Nashville, the number of residential units downtown has grown from 3,700 in 2010 to 11,800 today. Hotel room rates since 2008 …

Corporate Relocations, Coworking Concepts Reshape Nashville’s Office Market

The Nashville office market continues to have positive momentum coming into 2019, following three years of record-setting leasing that brought several big name corporate tenants to the market — plus a recent surprise announcement that Amazon will soon be adding 5,000 employees to Nashville’s central business district (CBD) within the Nashville Yards development. The bulk of the activity is concentrated in CBD Class A office space, as tenants focus on real estate decisions that emphasize …

Job Creation in Middle Tennessee Sparks Rise in Demand for Multifamily

In 2018, Nashville continued experiencing unprecedented population growth. Major job announcements, rising home prices and income growth have led to a shift in renters-by-choice. This has continued to transform our urban core and has had an immense impact on various industries within the city. On the investment side, multifamily assets in the market demonstrated some notable pricing trends through year-end 2018. The median price per unit in Nashville increased by more than 14 percent from …

Memphis Office Market Grows Its Existing Inventory by Nearly 6 Percent

Memphis ended 2017 with an overall vacancy rate of 14.8 percent, which is up slightly from where the year started at 14.5 percent — the highest level in three years. As the saying goes, “don’t judge a book by its cover,” and this especially applies to the Memphis office market. In 2017, 600,000 square feet of office space was absorbed. Developers also started 2017 with more than 1.2 million square feet of new office space in the pipeline, with 800,000 square feet delivered last year …

Stability Will Be Defining Characteristic of Memphis Multifamily Market in 2018

Consistency is key, and that’s exactly why investors find Memphis more attractive than ever: the Grind City’s financial and commercial real estate stability. The area has grown into a hub for both the distribution and transportation industries. As the largest economic driver in the state, Memphis International Airport alone injects over $20 billion a year into the region’s economy. Thanks in large part to FedEx, the airport has become the second-busiest cargo airport in the world. …

Memphis Industrial Market Closes Out 2017 With Strong Wave of Absorption

The positive momentum for the Memphis industrial market continues. For the previous three years, the market has had positive absorption every quarter. This momentum continued through 2017, where we saw an annual net gain of 6.6 million square feet of positive absorption. Memphis has not seen this type of multi-year, record-breaking performance since the early 2000s. Achieving year-over-year absorption volume at this level proves Memphis can continue to attract both new developers and investors. …

Nashville’s Urban Retail Development Boom Driven by Job, Population Growth

In its 2018 Emerging Trends in Real Estate survey, Urban Land Institute (ULI) named Nashville the No. 9 U.S. market to watch. Factors contributing to Nashville’s appearance as a top 10 market in ULI’s report for the past three years include a re-emergent downtown, strong population growth, market attractiveness to millennials and a low cost of living. These factors — along with game-changing urban retail developments and the creativity of its culinary scene — have elevated Nashville’s …

Nashville’s Hottest Office Sector is Tight Race Between Urban Core, Suburbs

Nashville’s office market, frequently heralded as up and coming, continues to see a great deal of interest from both local and outside investors, and the region’s rapid population growth and low vacancy rates continue to sustain a construction boom. Even with a high influx of new projects highlighting local news, the Nashville area still maintains the lowest vacancy rates of any market in the United States, according to CoStar. Compared to the rest of the country, Nashville has the second …

Is Nashville’s Multifamily Market Overbuilt? Maybe, But Not for Long

Nashville has set several notable records in recent years for job growth, rent growth, population growth, tourism and tax revenue, among others. But for the multifamily industry, the most notable benchmarks lately have been related to the amount of inventory that has been delivered. However, the more interesting and less obvious data point is the record level of renter demand that Nashville is currently experiencing. As of third-quarter 2017, Nashville led the country in relative net …

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